Celebrity tax troubles, high-profile scandals, and what the ultra-wealthy get away with — or don’t — when it comes to taxes.
Despite boasting an outstanding tax liability last year of more than $1.5 million, California has removed OJ Simpson from its list of biggest income tax evaders. While the state will not comment officially on the removal, it’s widely thought that Simpson’s name was removed from the list because he is currently in prison and there…
Apparently, it’s better to be naked on a beach in Borneo eating bugs than wearing orange in a prison cell in West Virginia… Richard Hatch, the first winner of Survivor has made yet another request to be released from prison. Hatch is currently serving just over four years in a West Virginia federal prison for…
The Internal Revenue Service (IRS) has finally developed a strategy for dealing with the victims of Bernard Madoff’s Ponzi scheme. The plan is said to apply to all participants in Ponzi schemes, not just Madoff’s, but clearly would not have been put in place without recent events. A Ponzi scheme operates like this: you put…
Oh, what would Biggie think? His former protege, Lil’ Kim (real name: Kimberly Denise Jones), has been trying to reinvent herself following a stint in federal prison in 2005. Kim was found guilty of conspiracy and perjury for lying to a grand jury about a 2001 shooting outside the Hot 97 studios in Manhattan and…
We have a winner! See comments! Our next tax trivia question is: What did eccentric millionaire Howard Hughes do in order to avoid paying state taxes in California? Don’t forget: the first correct answer wins free CCH tax prep software. What’s your guess?
On the day that the new season of “Dancing With the Stars” debuts, the former DWTS champ did some fancy footwork of his own in his first day of court. Helio Castroneves and his sister Katiucia Castroneves, together with their lawyer, Alan Miller, faced prosecutors on the first day of a federal tax trial alleging…
Alp? Check. Chocolate? Check. Banking secrecy? Not so much. The culture of Switzerland may be changing. At the forefront of the change may be its uber-secret banking laws. Switzerland is being forced to re-examine the way it does business in response to pressure from a number of countries, including the US, the UK and Germany….
Pro golfer Jim Thorpe is facing a new challenge these days: allegations that he did not pay $1.6 million in federal taxes. Thorpe is accused of failing to file and pay taxes on income he earned in 2002, 2003 and 2004. Altogether, Thorpe faces four counts of failure to file an income tax return and…
Reed Hastings, the CEO of Netflix, offered an interesting Op-Ed piece in the New York Times this week. Hastings joins the ranks of Ben Stein and Warren Buffet in calling for tax raises for… the ultra rich. Hastings believes that those in the upper classes, like himself, can afford to pay more in taxes –…
US District Court Judge Donald Graham has ruled that the show will go one: two time Indy 500 champ Helio Castroneves – and more importantly, one-time winner of the “Dancing With the Stars” mirrored disco ball – failed to convince Judge Graham to grant his motion to dismiss charges in his federal tax evasion case….